CYBERHAWK Innovations

CYBERHAWK Innovations

Drone-based industrial asset inspection and data management.

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DateInvestorsAmountRound
N/A

€0.0

round
investor

€0.0

round
investor investor

€0.0

round
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N/A

Buyout
Total Funding000k

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Revenues, earnings & profits over time
GBP2017201820192020202120222023
Revenues0000000000000000000000000000
% growth2 %42 %12 %(19 %)16 %16 %(6 %)
EBITDA0000000000000000000000000000
% EBITDA margin27 %15 %13 %27 %2 %2 %-
Profit0000000000000000000000000000
% profit margin(19 %)11 %(1 %)16 %14 %(3 %)6 %
EV0000000000000000000000000000
EV / revenue00.0x00.0x00.0x00.0x00.0x00.0x00.0x
EV / EBITDA00.0x00.0x00.0x00.0x00.0x00.0x00.0x
R&D budget0000000000000000000000000000

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Founded in 2008 by Malcolm Connolly, a former North Sea rope access engineer, Cyberhawk pioneered the use of drones for industrial inspections. The company's creation was driven by the idea of using unmanned aerial vehicles (UAVs) to inspect hazardous environments, such as offshore oil and gas platforms, without endangering human inspectors. Chris Fleming, who has a background as an inspection engineer for major energy companies and now serves as CEO, was part of the early leadership that established the company as an industry innovator, achieving over 35 world-firsts in drone applications.

Cyberhawk delivers end-to-end visual data solutions, combining drone-based data collection with a proprietary, cloud-based asset visualization software platform called iHawk. The company's services include close visual and thermal inspections, geospatial surveys, and emissions monitoring for clients in the energy, utilities, renewables, and construction industries. The iHawk platform integrates diverse data sources, including drone imagery, satellite intelligence, and IoT sensors, into a single interface, providing clients with a comprehensive record of their assets. This allows for improved situational awareness, predictive maintenance, and streamlined project management. In October 2024, the company launched Visualive, an AI-powered enhancement to iHawk that automates the analysis of visual data to identify defects and components, further accelerating the inspection workflow.

The business model centers on providing these specialized inspection services and offering subscription-based access to the iHawk software platform. This dual approach allows clients to either utilize Cyberhawk's expert pilots and engineers for data capture or manage their own drone data through the software. By replacing dangerous manual inspections, such as rope access, the company significantly improves safety while delivering operational efficiencies and cost savings, in some cases avoiding millions in production shutdown costs. Headquartered in Scotland, Cyberhawk operates globally with offices in the US and Qatar, serving over 300 clients in more than 40 countries. The company was acquired by Magnesium Capital in March 2019 and continues to expand its operations, including gaining FAA approval for beyond visual line of sight (BVLOS) flights in the US.

Keywords: drone inspection, asset visualization, visual data management, iHawk software, UAV services, industrial inspection, energy sector, oil and gas, renewables, utilities, capital projects, aerial survey, thermal imaging, emissions monitoring, predictive maintenance, asset integrity, situational awareness, geospatial intelligence, remote sensing, AI analytics

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